Tag : money

19

April 2016

Use of outdated operating systems like Windows XP and lack of security means it’s still possible to crack ATM security, warn researchers.

As one of the millions of people who frequent their banks ATM at least once a week, the last thing on my mind is usually the security of the operating system. But when you think about the foundation of the machine taking your card and spitting back cash, you’ll realize this machine is just a PC running on old software. Easily susceptible to malware. Not comforting.

There was a 15 percent jump in ATM fraud activity between 2014 and 2015 and researchers believe statistics will only increase. Within this time cyber criminals were able to get their hands on more than $150 million. Researchers credit security vulnerabilities to the use of outdated platforms that no longer receive patches and fixes such as Windows XP.

“If we think of a modern ATM as a MS Windows PC with a money box attached to it that’s controlled through software, it is easy to see how it becomes an attractive target for any malware writer,” Sancho and Huq said.

Trend Micro and Europol’s European Cybercrime Center (EC3) discovered two main malware threats that either provide hackers with the card details of the user, or give the hacker privileges to dispensed cash. Most worrisome is the lack of extreme measures hackers have to employ in order to infect ATMS. Simply put all hackers have to do is install malware onto the machines via a USB or the CD- drive.

At the moment, malware ATM fraud has only been reported in international cases, Eastern Europe and South America. Despite little activity in the United States, authorities are aware of increasing malware ATM concerns and are monitoring cyber criminal forums for activity.